It goes without saying that car insurance companies want to keep your business as long as possible. Consumers who shop for lower rates will most likely switch companies because there is a good probability of getting low-cost coverage. A study showed that drivers who regularly compared price quotes saved an average of $860 a year as compared to drivers who never compared rates.
If finding the cheapest price for insurance is your target objective, then understanding how to find companies and compare cheaper coverage can help you be more efficient.
If you want to find the absolute lowest rates, then the best way to get low-cost car insurance rates in Colorado Springs is to start doing an annual price comparison from different companies in Colorado.
- Try to comprehend policy coverages and the changes you can make to prevent expensive coverage. Many rating criteria that result in higher rates such as at-fault accidents and a negative credit rating can be rectified by paying attention to minor details. Later in this article we will cover additional ideas to help reduce prices and find possible discounts that are available.
- Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Farmers Insurance, while independent agents can quote rates from many different companies.
- Compare the new rate quotes to your current policy premium and determine if there is any savings. If you find better rates and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Tell your current agent or company of your intent to cancel your current policy and submit payment and a completed application to the new company. Make sure you keep your new proof of insurance certificate along with your vehicle registration.
The key thing to remember is to try to compare identical limits and deductibles on each price quote and and to get price estimates from as many auto insurance providers as possible. This helps ensure a fair rate comparison and maximum price selection.
If you currently have a car insurance policy, you should be able to save money using the tips covered below. Our goal in writing this article instruct you on how to compare rates easily and some tricks to saving. Although Colorado vehicle owners need to learn how companies calculate their prices and use this information to your advantage.
It’s important to know that having more price comparisons increases your odds of finding better pricing. Some companies don’t provide online price quotes, so you should also compare price quotes on coverage from those companies, too.
The companies shown below are our best choices to provide price quotes in Colorado Springs, CO. To locate cheaper car insurance in Colorado Springs, it’s a good idea that you compare several of them to get a more complete price comparison.
Facts and figures for Hyundai Veracruz insurance
The table displayed below outlines estimates of policy rates for Hyundai Veracruz models. Learning as much as possible about how prices are figured can assist in making smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Veracruz GLS 2WD | $130 | $238 | $280 | $16 | $84 | $748 | $62 |
| Veracruz GLS AWD | $146 | $238 | $280 | $16 | $84 | $764 | $64 |
| Veracruz Limited 2WD | $146 | $282 | $280 | $16 | $84 | $808 | $67 |
| Veracruz Limited AWD | $146 | $282 | $280 | $16 | $84 | $808 | $67 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Prices do not factor in garaging location in Colorado Springs which can alter auto insurance rates considerably.
Higher deductibles save money
A question often asked by Colorado Springs drivers is where should you set your physical damage deductibles. The rates shown below can help you understand how much more you’ll pay of buying low and high deductibles. The first set of prices uses a $250 physical damage deductible and the second rate table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Veracruz GLS 2WD | $272 | $458 | $298 | $18 | $90 | $1,161 | $97 |
| Veracruz GLS AWD | $306 | $458 | $298 | $18 | $90 | $1,195 | $100 |
| Veracruz Limited 2WD | $306 | $538 | $298 | $18 | $90 | $1,275 | $106 |
| Veracruz Limited AWD | $306 | $538 | $298 | $18 | $90 | $1,275 | $106 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Veracruz GLS 2WD | $220 | $368 | $298 | $18 | $90 | $994 | $83 |
| Veracruz GLS AWD | $250 | $368 | $298 | $18 | $90 | $1,024 | $85 |
| Veracruz Limited 2WD | $250 | $434 | $298 | $18 | $90 | $1,090 | $91 |
| Veracruz Limited AWD | $250 | $434 | $298 | $18 | $90 | $1,090 | $91 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Estimates do not factor in the specific area where the vehicle is garaged which can affect rates considerably.
We can estimate from the data above that using a $250 deductible costs approximately $14 more each month or $168 every year across all Hyundai Veracruz models than requesting the higher $500 deductible. Since you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at least 18 months between claims, you would save more money if you opt for a higher deductible.
The illustration below shows how choosing a deductible and can change Hyundai Veracruz premium costs for different age categories. The premiums are based on a single male driver, full coverage, and no policy discounts are applied.
Careless driving habits raise Colorado Springs insurance rates
The illustration below shows how violations and accidents raise Hyundai Veracruz insurance prices for different age groups. Data assumes a single female driver, full coverage, $250 deductibles, and no additional discounts are factored in.
Comparison of full coverage and liability-only policies
The chart below illustrates the difference between Hyundai Veracruz premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on no violations or accidents, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no exact formula of when to phase out comp and collision coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s pretend your Hyundai Veracruz book value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $7,000 after paying the physical damage deductible. If you are paying over $700 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some cases where buying only liability insurance is not advised. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Car insurance quotes from local neighborhood Colorado Springs car insurance agents
Some consumers still prefer to have an agent’s advice and that can be a smart move One of the great benefits of getting free rate quotes online is that you can find cheap car insurance quotes and still have an agent to talk to. Buying from local insurance agencies is important especially in Colorado Springs.
Once you complete this simple form, your information is instantly submitted to participating agents in Colorado Springs who will gladly provide quotes for your car insurance coverage. It’s much easier because you don’t need to search for any insurance agencies due to the fact that quote results will go straight to your inbox. You can find better rates without requiring a lot of work. If for some reason you want to get a price quote for a specific company, you would need to search and find their rate quote page and give them your coverage information.
Pick the best auto insurance agent in Colorado Springs for you
When narrowing the list to find a reliable insurance agency, it helps to know the two types of agencies and how they differ in how they quote coverages. Agents are classified as either exclusive agents or independent agents.
Independent Insurance Agents
Agents in the independent channel often have many company appointments and that gives them the ability to insure with lots of companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, an independent agent can move your coverage and you can keep the same agent.
When comparing rate quotes, you definitely need to get some free quotes from independent agents to ensure the widest selection of prices. Many write coverage with less well-known companies who may have lower rates.
Listed below is a short list of independent insurance agencies in Colorado Springs that may be able to give free rate quotes.
- Solid Rock Insurance Agency
2850 Serendipity Cir W #230 – Colorado Springs, CO 80917 – (719) 574-0082 – View Map - Insurance Stops
2105 E Bijou St A – Colorado Springs, CO 80909 – (719) 636-3369 – View Map - Six and Geving Insurance Inc
3630 Sinton Rd # 200 – Colorado Springs, CO 80907 – (719) 590-9990 – View Map
Exclusive Insurance Agents
Agents that elect to be exclusive can only place business with one company and some examples include State Farm, Allstate, or Farmers Insurance. These agents are not able to shop your coverage around so they have no alternatives for high prices. They are usually well trained on the products they sell and that allows them to sell at a higher price point. Consumers sometimes buy from exclusive agents mostly because of the brand instead of buying on price only.
Listed below is a list of exclusive agents in Colorado Springs who can help you get price quote information.
- American Family Insurance – Michael Janzen Agency Inc.
1045 W Garden of the Gods Rd Ste M – Colorado Springs, CO 80907 – (719) 528-6387 – View Map - Brandon Sullivan – State Farm Insurance Agent
5615 Constitution Ave – Colorado Springs, CO 80915 – (719) 597-5000 – View Map - State Farm: Austin Morgan
1806 Dominion Way Suite A – Colorado Springs, CO 80918 – (719) 630-1800 – View Map
Finding the right insurance agency requires you to look at more than just a cheap price. These are some questions your agent should answer.
- Is the agent and/or agency licensed to do business in Colorado?
- Do they review policy coverages at every renewal?
- Do they have 24-hour customer assistance?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Do the companies they represent have a solid financial rating?